After a bitcoin crackdown, China now calls it an 'investment alternative' in a significant shift in tone

an "investment alternative" — marking a significant shift in Beijing's tone after a crackdown on cryptocurrency issuance and trading nearly four years ago.

Industry insiders called the comments "progressive" and are watching closely for any regulatory changes made by the People's Bank of China . "We regard Bitcoin and stablecoin as crypto assets ... These are investment alternatives," Li Bo, deputy governor of the PBOC, said on Sunday during a panel hosted by CNBC at the Boao Forum for Asia.

"They are not currency per se. And so the main role we see for crypto assets going forward, the main role is investment alternative."In this photo illustration, the Bitcoin logo is seen on a mobile device with People's Republic of China flag in the background. China was once one of the world's largest buyers of bitcoin.

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Wow!.....really?

Like seriously?

Wow

Will the US change its course to match China now? 🤔🤔

The US needs to start stacking ASAP... 😳

I find it hard to believe they would be fine with Chinese citizens storing all their wealth in crypto.

They’re definitely up to something 🙄

They better quit playing with people’s money

So they have finish studying about bitcoin. Binance

crypto to the masses 👍🏼

jaycreynolds Just because people won't load up on gold. That's why...

KomilBuranov

Join the crypto trend

Now this is called good journalism and correct information reporting.

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Everyone’s buying Doge right now. 😂

$SPCB buy now

If Bitcoin is used for bribery,...

India: We fucked up, shit, back back back.

They bought the dip as well

Its on baby $bch $eth

lol

I am looking for new, good friends

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